Horizon’s Hawaii trade-lane business

Under the terms of the agreement, Pasha will acquire certain subsidiaries of Horizon constituting substantially all of Horizon’s Hawaii trade-lane business, including four Jones Act container ships. Immediately following Pasha’s acquisition of Horizon’s Hawaii trade-lane business, Horizon will be acquired by Matson pursuant to a merger. The transaction is expected to close in 2015, subject to regulatory approval, satisfaction of the closing conditions to the merger of Horizon and Matson and other customary closing conditions.

In becoming part of Pasha, Horizon’s Hawaii business will operate alongside Pasha’s existing operations. With these additional vessels, Pasha will provide customers with a wider offering of high-quality, scheduled shipping and logistics services for containers, refrigerated containers, and a variety of roll-on/roll-off cargoes.

“Since Pasha entered the Hawaii transportation circuit nearly 10 years ago, we have elevated the quality of customer service,” said George Pasha, IV, President and CEO. “With this acquisition, we will supplement that service and provide an improved, more competitive offering on the Hawaii trade lane.”

“First and foremost, Pasha is a full-service transportation company,” Pasha added, “and as such our primary goal is to enrich the transportation services available to our customers. A decade ago, we introduced the first pure car/truck carrier for the Hawaii-Mainland trade lane, the Jean Anne, in response to customers’ needs. We now look forward to providing Pasha-quality service for even more of the people of Hawaii.”

Pasha noted that environmental responsibility and stewardship will continue to be a major part of Pasha’s culture and vessel operations with the addition and improvements to Horizon’s ships. The company will also stay actively involved with local charities and organizations in the communities it serves. “We are excited to welcome Horizon into our ‘ohana,” Pasha said.